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Bob, an investor, owns land that is condemned by the county for a park. Bob's land cost is $150,000. The county pays him $200,000 (its

Bob, an investor, owns land that is condemned by the county for a park. Bob's land cost is $150,000. The county pays him $200,000 (its fair market value). Bob purchases replacement land for $175,000. How much taxable gain is recognized in the current year? a. $25,000 b. . $50,000 C. $5,000 d. $0 e. $200,000

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